The right time to Increase De Beers stake: Botswana’s mines minister

Botswana’s mines minister Bogolo Kenewendo says it’s “absolutely” the right time to discuss the government increasing its 15 per cent stake in De Beers.

Published

1 year ago

February 11, 2025

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She indicated that Anglo American, which owns the other 85 per cent of De Beers, was moving closer to an initial public offering (IPO) and that Botswana was pushing for a larger stake.

Anglo announced last week that it was likely to write down the value of De Beers from its current $7.6bn, as a result of persistent weak diamond demand, especially in China.

Botswana’s diamond, which accounts for over 70 per cent of the country’s export earnings, has been severely hit by the global slump in demand.

In the last nine months of 2024 Debswana – its 50/50 joint venture with De Beers it sold $1.53bn of rough, down 52 per cent on the same period in 2023.

Global Diamond Markets and Overall Prices Remain Steady

Steady Prices Mask A Polarizing Market Where Specific Large Shapes Win and Poorly Cut Diamonds Stagnate.

Published

1 day ago

June 29, 2026

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The natural diamond and high-end jewelry sectors are experiencing a period of selective resilience. While macro-market prices remain steady, structural shifts in consumer preference, inventory drawdowns, and geographic demand variations are creating distinct “winners and losers” across diamond cuts, sizes, and geographies.

Macro Overview: Global markets and overall prices remain steady. Dossier prices continue to recover—particularly in the 0.30 ct. round collection goods—following a significant inventory drop.
B2B Buyer Behavior: Demand remains patchy. Wholesale buyers are strictly purchasing to fulfill specific, pre-existing orders rather than buying for inventory.
Category Winners: Sales are heavily concentrated in 2-carat and larger diamonds. While rounds are stable, long fancy shapes (Ovals, Marquises, Emeralds) are outperforming rounds in the 2 ct.+ category. High-quality Marquises, long Radiants, and long Cushions are in short supply.
Shape Premiums & Trends: > * Marquise is currently the most expensive fancy shape.
- Long Cushions are highly liquid, trading at a 20% to 25% premium over square cushions.
- Antique cuts/styles and well-proportioned, elongated Ovals (D–I color, VS–SI clarity) see robust demand, especially in the US.
- Illiquidity Risk: Poorly proportioned fancy shapes remain entirely illiquid.